Boulder, Colorado to drop business with firms invested in oil and gas

Insurance companies with business investments in oil and gas are being targeted by county commissioners in Boulder, Colorado, a city known for its environmental and progressive political activism. If they don’t make the check list, they’ll be eliminated from county business.

Boulder County proclaimed it plans to screen insurance companies it does business with to see if they have investments and other clients for ties to the fossil fuel industry. If they do, they’ll be crossed off the county’s list and no longer able to do business with the county.

The county is also urging the insurance industry to divest from fossil fuels, with public officials hoping to move the needle in reducing planet-warming carbon emissions from the extraction of such energy sources and their consumption.

Environmental advocacy organization 350 Colorado claimed Boulder County’s proclamation made it the first county in the nation to call for divestment from insurance companies funding or protecting fossil fuel companies.

“At Boulder County, we’re continually looking at ways to reduce our carbon footprint and invest in energy choices that help combat the escalating impacts of climate change,” Boulder County Commissioner Elise Jones stated in a news release. “By making it a preference to invest in companies that choose not to do business with some of the main drivers of climate change, we help further our goal of minimizing our contributions to the climate crisis and support the transition to a low-carbon economy.”